In April, Gov. Doug Ducey signed HB 2591, which allows equity crowdfunding in the state. Small businesses and entrepreneurs in Arizona can now raise money from the public, similar to crowdfunding sites Kickstarter and Indiegogo.

Steven G. Zylstra, president and CEO of the Arizona Technology Council, said the law only allows intrastate transactions, so the “investor and the company that is being invested in both have to be in Arizona.”

“Crowdfunding is great,” said Andrew Chaifetz, founder and CEO of Scottsdale-based NoteBowl, a platform that provides academic and social information about higher education institutions in one spot. “To be able to go on a site to find investors that can pull together to fund things is amazing.”

Thomas Barr, director of operations for nonprofit Local First Arizona, agreed.

“They’re bridging the gap between funding and getting all the resources and education you need when you’re going to start a business,” he said.

The groups have soft launched the website
, and it will officially open at the end of the year.